The UK campaign to call for us all to ‘move your money’ to co-op and mutual banks launches today.
This is a campaign kick started by hope and passion and it will succeed if we can get the public and political debate off the oceans of rhetoric and onto the only language bankers understand – money.
Credit Unions and The Co-operative Bank have both seen an increase in users over the last two years, whilst the Occupy movement – and the debates in mainstream media it has triggered – reflect a wider disillusionment with the way in which the traditional banking sector operates.
In the US, the ‘move your money’ campaign has been established around a relatively simple website to enable people to easily find and move their bank account away ‘from Wall Street to Main Street’, i.e. to a community bank or credit union. The campaign has received widespread publicity and support. A ‘bank transfer day’ on 5 November 2011 saw 65,000 people transfer their accounts to credit unions.
Pass the word. Move your money.